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BUCKINGHAM APARTMENTS

SUMMARY AND RECOMMENDATIONS

_____________________________________________________________

Applicant: MRK Partners, Inc.

Action: Initial Resolution

Amount: $20,000,000

Purpose: Finance Affordable Multi-Family Rental Housing

Facilities Located in the City of Los Angeles, Los

Angeles County, California

Activity: Affordable Housing

Meeting: January 15, 2016

Background:

MRK Partners, Inc. is a multi-family real estate investment and asset management firm that

specializes in the acquisition, repositioning and preservation of affordable housing. They invest in

multi-family real estate in primary U.S. markets including California, Florida, Maryland, Virginia

and Washington DC metro area.

MRK Partners was founded by Sydne Garchik, who prior to founding MRK, was directly

responsible for the acquisition and asset management of over 3,000 units. Mr. Garchik oversaw

the acquisition, renovation and stabilization of over 2,000 affordable units throughout the

country, approximately 900 of which were Section 8 properties.

Since its beginning, MRK has developed or acquired more than 2,300 affordable housing units in

five states. They are involved in revitalizing California communities through their affordable

housing development and property management activities, the partnerships they establish and the

investments they make in California neighborhoods, and through the free social services and

supportive programs they provide to meet the needs of their residents.

The Project:

The Buckingham Apartments is an acquisition/ rehabilitation of an existing affordable housing

multifamily tax credit project. The project is an 84 unit multifamily residential rental facility

consisting of five buildings all within approximately 1/5 of a mile from each other, located at

4706 August St., 4143 Buckingham, 3945 Gibraltar and 4050 Ursula Ave, Los Angeles, CA.

The project was originally built in the 1940s and 1950s, and is in need of substantial

rehabilitation. The scope of renovations will include unit interior rehabilitation, including new

carpet and flooring, new cabinets and countertops, as well as new appliances. Renovations will

also be done to the common areas and building exterior with an emphasis on making the project

more energy efficient and to promote water conservation. This financing will preserve a much

needed 83 units of affordable housing for the City of Los Angeles for another 55 years.

The City of Los Angeles:

The City of Los Angeles is a member of the CMFA and is scheduled to hold a TEFRA hearing on

February 5, 2016. Upon closing, the City is expected to receive approximately $11,250 as part of

the CMFA’s sharing of Issuance Fees.

Proposed Construction Financing:

Sources of Funds:

Tax-Exempt Bond: $ 18,000,000

Equity: $ 7,500,000

Total Sources: $ 25,500,000

Uses of Funds:

Land Acquisition: $ 1,550,000

Building Acquisition: $ 13,950,000

Rehabilitation: $ 3,735,000

Architectural & Engineering: $ 250,000

Legal & Professional: $ 250,000

Developer Fee: $ 2,500,000

Reserves: $ 750,000

Closing Costs: $ 200,000

Debt Service During Construction: $ 915,000

Cost of Issuance: $ 1,400,000

Total Uses: $ 25,500,000

Terms of Transaction:

Amount: $20,000,000

Maturity: 17 years

Collateral: Deed of Trust on property

Bond Purchasers: Private Placement

Estimated Closing: April 2016

Public Benefit:

A total of 83 families will be able to enjoy high quality, independent, affordable housing in the

City of Los Angeles, California. Resident services coordination and on-site programming will be

provided by the project.

Percent of Restricted Rental Units in the Project: 100%

12% (10 Units) restricted to 50% or less of area median income households; and

88% (73 Units) restricted to 60% or less of area median income households.

Unit Mix: One-, two- and three-bedrooms

Term of Restriction: 55 years

Finance Team:

Lender: TBD

Bond Counsel: Orrick, Herrington & Sutcliffe LLP

Issuer Counsel: Jones Hall APLC

Lender Counsel: TBD

Borrower Counsel: Downs Pham & Kuei LLP

Financial Advisor: JLL Capital Markets

Recommendation:

The Executive Director recommends that the CMFA Board of Directors approve an Initial

Resolution of $20,000,000 for Buckingham Apartments affordable multi-family housing facility

located in the City of Los Angeles, Los Angeles County, California.

Note: This transaction is subject to review and final approval at the Final Resolution.

*Other Costs: These are costs that are categorized by CDLAC as “Other Costs” they may include

the following; Accounting/Reimbursable, Appraisals, Audit Costs, Capital Needs Assessment,

Contingency, Demolition & Environmental Remediation, Environmental Audit, Furnishings,

Inspections, Insurance, Investor Due Diligence, Local Development Impact Fees, Marketing,

Market Study, Operating Reserves, Permit Processing Fees, Prevailing Wage Monitoring,

Relocation, Seismic, Syndication Consultants, TCAC App/Allocation/Monitoring Fees.

PARK PLACE APARTMENTS


_____________________________________________________________

Applicant: EAH, Inc.


Amount: $26,000,000


Facility Located in the City of Morgan Hill, Santa Clara

County, California



Background:

EAH Housing (“EAH”) is a nonprofit corporation founded with the belief that attractive

affordable housing is the cornerstone to sustainable, living communities. Established in 1968,

EAH has become one of the largest and most respected nonprofit housing development and

management organizations in the western United States. With a staff of over 400, EAH develops

low-income housing, manages 97 properties in California and Hawaii, and plays a leadership role

in local, regional and national housing advocacy efforts.

Starting from grass-roots origins in response to the death of Dr. Martin Luther King Jr., EAH now

serves over 20,000 seniors, families, students, people with disabilities, frail elderly and the

formerly homeless. Combining award winning design, innovative on-site services and a

commitment to people, EAH reflects the distinctive personality of each community.

EAH is dedicated to building communities that enhance the surrounding neighborhoods. The

organization has developed 83 properties with an aggregate value of more than $1 billion, and

manages 9,100 units in 49 municipalities in California and Hawaii. EAH has received multiple

national awards for property management, eleven design awards and numerous commendations

from legislators on the federal, state and local levels.

The CMFA has facilitated over ten EAH projects.

The Project:

The Park Place Apartments is an acquisition/ rehabilitation of a 112-unit affordable multifamily

housing project. Common areas include a management office, resource coordinator office,

community room, lounge, laundry maintenance workspace, community garden, parking and

common area patios. The property was built in 1971 and is suffering from deferred maintenance

due to its age. The property is located within a residential area with shipping and transportation

close by. Among the improvements to the property will be significant upgrades to the

accessibility features in and outside the building. Sustainable and “green” materials will be

incorporated into the rehab scope providing beneficial cost savings to the property’s operating

costs and a reduction in environmental pollution. This financing will help preserve high quality

affordable housing for 112 family households in the City of Morgan Hill for another 55 years.

The City of Morgan Hill:

The City of Morgan Hill is a member of the CMFA and is scheduled to hold a TEFRA hearing on

January 20, 2016. Upon closing, the City is expected to receive approximately $13,500 as part of


Proposed Financing:

Sources of Funds:


Seller Take Back Loan: $ 7,681,196

Local Government Loans: $ 4,350,074

Equity: $ 3,947,392


Uses of Funds:

Land Acquisition: $ 185,910





Loan Interest/ Permits & Fees: $ 1,587,507

Relocation: $ 1,350,841

Taxes & Insurances: $ 140,000

Reserves/ Developer Fee: $ 2,600,000

Cost of Issuance: $ 162,304

Total Uses: $ 40,105,519


Amount: $26,000,000

Maturity: 17 years



Estimated Closing: May 2016

Public Benefit:

The project will offer a Resource Coordinator that works with residents to determine their needs

and connects them with resources to fulfill those needs. There are also onsite programs such as

weekly food distribution, health/ wellness classes and social activities. A total of 112 family’s

households will continue to be able to enjoy high quality, independent, affordable housing in the

City of Morgan Hill, California for another 55 years.



51% (57 Units) restricted to 60% or less of area median income households

Unit Mix: two-, three-, four-, and five-bedroom units


Finance Team:

Lender: TBD

Bond Counsel: Jones Hall, APLC

Issuer Counsel: Jones Hall, APLC

Lender Counsel: TBD

Borrower Counsel: Bocarsly Emden Cowan Esmail & Arndt LLP

Financial Advisor: California Housing Partnership Corporation

Recommendation:


Resolution of $26,000,000 for Park Place Apartments affordable multi-family housing facility

located in the City of Morgan Hill, Santa Clara County, California.

Note: This transaction is subject to review and approval of the Final Resolution.







SHADOW HILLS APARTMENTS


_____________________________________________________________

Applicant: Many Mansions


Amount: $19,000,000


Facility Located in the City of Thousand Oaks, Ventura

County, California



Background:

On August 24, 1979, Many Mansions was incorporated as a California nonprofit corporation.

Many Mansions initially devoted itself to rental assistance. Over the next approximately eight

years, Many Mansions ran the successful “Adopt-A-Family” program in which donors from the

community would donate money to be used as rental assistance for families that needed help.

However, Many Mansions had no control over this housing—its condition, its rental levels, and

the amenities. During 1986-87, Many Mansions embarked upon its first development project.

Many Mansions, along with the City of Thousand Oaks and the Conejo Future Foundation,

developed Schillo Gardens. Financed through the federal tax credit program and with assistance

from the City of Thousand Oaks, Schillo Gardens housed individuals and families who were low-

income and whose rent would be set accordingly. Many Mansions has continued to grow its

portfolio and develop affordable housing.

Many Mansions Children and Adult Service Programs have distinguished them from other

affordable housing providers. They have led the fight to end homelessness, and their

compassionate and supportive services have made them the ideal housing provider of the

disabled.

The CMFA has participated in five projects with Many Mansions.

The Project:

The Shadow Hills Apartments project is an acquisition rehabilitation of a 101-unit affordable

multi-family housing development. The development sits on a 4.22 acre property and consists of

7 two-story buildings and 1 three-story building. The unit mix includes 26 one-bedroom, 67 two-

bedroom and 7 three-bedroom units. Seventy-percent of the units will be restricted to low income

households making 60% or less of the Area Median Income and thirty-percent will be restricted

to very low income households making 50% or less of Area Median Income. The project is

located at 227 E. Wilbur Road, Thousand Oaks, California. Amenities include a free-standing

community room which serves as the entertainment and services area for the property and also

houses a manager’s office and laundry room. Additional on-site amenities include a pool, tot-lot,

basketball court and on-site parking. This financing will continue to provide 100 units of

affordable housing for the City of Thousand Oaks for the next 55 years.

The City of Thousand Oaks:

The City of Thousand Oaks is a member of the CMFA and is scheduled to hold a TEFRA hearing

on February 23, 2016. Upon closing, the City is expected to receive approximately $9,375 as part

of the CMFA’s sharing of Issuance Fees.


Sources of Funds:


City of Thousand Oaks Loan: $ 5,476,100

Seller Carryback: $ 5,843,679

Accrued/Deferred Interest: $ 305,000

Purchased Reserves: $ 112,467

Deferred Costs: $ 2,434,403

Deferred Developer Fee: $ 1,275,725

Capital Contributions: $ 600,100


Uses of Funds:

Land Acquisition: $ 230,000


Purchased Reserves: $ 112,467





Relocation: $ 459,278

Contractor Overhead & Profit: $ 332,906

Contingencies & Reserves: $ 1,207,746

Construction Period Expenses: $ 845,000

Other Soft Costs: $ 261,832

Costs of Issuance: $ 339,178

Total Uses: $ 31,048,943


Amount: $19,000,000

Maturity: 17 years




Public Benefit:

A total of 100 families will continue to be able to enjoy high quality, independent, affordable

housing in the City of Thousand Oaks, California. The project provides free on-site afterschool

tutoring for the resident children, children’s summer camp, and food assistance.



70% (70 Units) restricted to 60% or less of area median income households;

Unit Mix: 1-, 2- and 3-bedroom units


Finance Team:

Lender: TBD

Bond Counsel: Quint & Thimmig, LLP


Lender Counsel: TBD

Borrower Counsel: Gubb & Barshay, LLP

Recommendation:


Resolution of $19,000,000 for Shadow Hills Apartments affordable multi-family housing facility

located in the City of Thousand Oaks, Ventura County, California.








MISSION VILLAGE APARTMENTS


_____________________________________________________________

Applicant: Barker Management, Inc.


Amount: $15,000,000


Facility Located in the City of Los Angeles, Los Angeles

County, California



Background:

Barker Management, Inc. (“BMI”) was formed in 1972 with the concept of providing quality

property management services to the affordable housing market.

BMI began managing federally assisted housing, expanding over the years, to include

conventional housing and commercial developments; however, its specialty continues to be the

management of affordable housing. There are more programs than ever for affordable housing to

utilize for subsidy, and Barker Management Incorporated has stayed abreast of the constant

changes. Presently BMI manages properties that include a variety of subsidies from various

agencies of programs including United States Department of Housing and Urban Development

(HUD), Community, Federal and State Low Income Housing Tax Credits, State Bond Issuers,

Federal Home Loan Bank’s Affordable Housing program and other state and local funding

sources. Barker Management has developed into a full service firm providing a multitude of services to its

clients. Barker Construction and Development Company, a division of BMI, is fully bondable

and specializes in major rehabilitation of multifamily developments. Another affiliate of BMI,

Valued Housing, focuses on the acquisition, development and presentation of affordable housing

developments. As a property management firm, BMI handles not only the daily management of a

development, but also provides a variety of services. These services include accounting services,

budget analysis, maintenance scheduling, monthly account reports, and BMI actively embraces

technology to meet the unique and complex needs of our clients. This allows BMI to manage a

development based on its specific needs as opposed to trying to make the development fit a

standard management template

The Project:

The Mission Village Apartments is an acquisition rehabilitation of an 84-unit, affordable multi-

family housing development. The project’s units will all be restricted to households making no

more than 50% and 60% of Area Median Income with the exception of one unit that will be used

as the manager’s units. The scope of renovations to be done will be improve energy efficiency,

upgrade HVAC equipment, new carpet, vinyl and appliances for the unit’s kitchens, updates to

bathrooms and flooring throughout. Amenities include a community room, courtyard picnic area,

laundry room, computer room, service coordinator and on-site manager. The project is located at

4001 N. Mission Road, Los Angeles, California. This financing will continue to preserve 84 units

of affordable housing in the City of Los Angeles for the next 55 years.


The City of Los Angeles is a member of the CMFA and is scheduled to hold a TEFRA hearing on

February 5, 2016. Upon closing, the City is expected to receive approximately $9,375 as part of



Sources of Funds:


CHC Loans: $ 2,534,041


NOI During Construction: $ 407,991

Equity: $ 8,791,604


Uses of Funds:





Permanent Financing: $ 442,550

Reserves: $ 471,080

Third Party: $ 582,186


Total Uses: $ 25,066,231


Amount: $15,000,000

Maturity: 17 years



Estimated Closing: June 2016

Public Benefit:

LifeSteps will provide educational services, after-school programs and social events. A total of 83

households will continue to be able to enjoy high quality, independent, affordable housing in the

City of Los Angeles, California.




Unit Mix: 1-, 2-, and 3-bedroom units


Finance Team:

Lender: Citi Community Capital

Financial Advisor: 1410 Partners

Bond Counsel: Orrick, Herrington & Sutcliffe, LLP


Lender Counsel: TBD

Borrower Counsel: Bocarsly, Emden, Cowan, Esmail, Arndt, LLP

Recommendation:


Resolution of $15,000,000 for Mission Village Apartments affordable multi-family housing

facility located in the City of Los Angeles, Los Angeles County, California.








LIFE’S GARDEN APARTMENTS


_____________________________________________________________

Applicant: Beacon Communities, Inc.


Amount: $45,000,000


Facility Located in the City of Sunnyvale, Santa Clara

County, California



Background:

The Mission Statement for Beacon Communities is that they will “advocate for, develop and

operate quality housing and services for the aging and other people with limited resources and/or

disabilities, enabling them to thrive in a positive, affordable and supportive community”.

Because Beacon Communities seeks to enhance the quality of life, seniors and others with limited

resources and/or disabilities will have a safe place to live and access to services they need and

deserve.

Older people and others with limited resources and/or disabilities should have the right to

experience life to its fullest through self-determination. A caring community recognizes that

people are individuals with changing needs and seeks innovative approaches that emphasize each

person’s wholeness. Their services provide opportunities for personal growth, security,

fulfillment and choice. Their heritage leads them to serve older people and others with limited

resources and/or disabilities without regard to religious preference. As a charitable corporation,

they exist for and are responsible to the communities they serve. Their comprehensive programs

go beyond the provision of services within their own communities and attempts to effect changes

within society that lead toward a fuller life for all of us.

The Project:

The Life’s Garden Apartments project is an acquisition/rehabilitation of a 208-unit affordable

senior housing development. The retirement community offers studio and one bedroom

apartments with approximately 450-550 square feet per apartment. Ground floor units enjoy a

small garden patio and most second floor units enjoy a view of the center courtyard gardens. All

second floor units are accessible via elevator. Units are equipped with full kitchens, ceiling fans

and double pane windows. Parking is available on-site and antenna, cable and internet hook-ups

are available. The property has a large lounge, community room, and dining room. An outside

party currently provides meals to residents. The property also has an exercise room, library, game

room and beauty salon. Life’s Garden has an on-site service coordinator with access to a variety

of classes/ services on health and safety. The property has a 22 passenger bus for social outings

and events. All of the units will be restricted to low income households making 60% or less of the

Area Median Income. The project is located at 450 Old San Francisco Road, Sunnyvale, CA

94086. This financing will continue to provide 208 units of affordable housing for the City of

Sunnyvale for the next 55 years.

The City of Sunnyvale:

The City of Sunnyvale will need to become a member of the CMFA and will be asked to hold a

TEFRA hearing. Upon closing, the City is expected to receive approximately $16,666 as part of



Sources of Funds:


Existing Reserves: $ 1,074,731


Accrued/Deferred Interest: $ 870,182


Capital Contributions: $ 18,636,835


Uses of Funds:





Architectural & Engineering: $ 1,535,094



Soft Costs/ Interest: $ 3,862,971

Contingencies & Reserves: $ 2,017,792


Total Uses: $ 70,724,835


Amount: $45,000,000

Maturity: 17 years




Public Benefit:

A total of 208 seniors will continue to be able to enjoy high quality, independent, affordable

housing in the City of Sunnyvale, California.


100% (208 Units) restricted to 60% or less of area median income households.

Unit Mix: Studio and 1-bedroom units


Finance Team:

Lender: TBD



Lender Counsel: TBD

Borrower Counsel: Gubb & Barshay, LLP

Financial Advisor: Community Economics, Inc.

Recommendation:


Resolution of $45,000,000 for Life’s Garden Apartments affordable multi-family housing facility

located in the City of Sunnyvale, Santa Clara, California.








MONTE VISTA GARDEN APARTMENTS


_____________________________________________________________

Applicant: WNC, Inc.


Amount: $31,000,000


Facility Located in the City of San Jose, Santa Clara

County, California



Background:

WNC & Associates, Inc. was founded in 1971 when most people had never heard of affordable

housing. At that time, few saw the opportunities in this emerging industry. In 1987, when the

states were learning how to allocate Low-Income Housing Tax Credits, WNC was already

assisting developers with how to structure and use them effectively. They moved quickly in this

new program and closed 22 acquisitions in the first year. In 2002, WNC led the way again by

becoming the first to apply for and receive an allocation of New Markets Tax Credits. While

many were still learning, WNC closed $34 million of qualified New Markets investments to

finance over 100,000 square feet of commercial properties, becoming, once again, one of the first

in the country to do so.

For over four decades, WNC has provided the experience, leadership, innovation and flexibility

their customers have come to rely on. The key to their competitive advantage, however, is their

ability to close transactions quickly and efficiently. They excel at this by drawing on their

unparalleled experience and longevity in the industry and their company’s extensive access to

capital. Their senior officers average 25 years with WNC and 29 years in the real estate industry.

Their investor base exceeds 19,500 institutional and retail clients, including Fortune 500

companies, multinational banks and some of the nation’s leading insurance companies.

Today, with more than $6.5 billion of real estate assets acquired, including over 1,225 properties

in 45 states, they don’t just say they are an “industry leader” and a “long-term partner,” they’ve

proven it for over four decades.

The Project:

The Monte Vista Apartments project is an acquisition/ rehabilitation of a 144-unit affordable

multi-family housing development. The development consists of six three-story garden style

buildings. The unit mix includes 24 one-bedroom, 72 two-bedroom and 48 three-bedroom units.

The site has two additional buildings which serve as the clubhouse, rental office, and exercise

room. The project was originally constructed in 2001 with low-income housing tax credits.

Additionally, 116 of the 144 units are rent and income restricted at the 30%, 35%, 50%, or 60%

percent AMI. The 15 year LIHTC compliance period will end in 2016. The project is located at

2601 Nuestra Castillo Court, San Jose, Santa Clara County, California 95117. The rehabilitation

program will address health and safety issues, ADA, deferred maintenance, and energy

efficiency. Currently, the Developer is planning on replacing all countertops and cabinetry in

units, painting the kitchen and baths, replacing the roofs, and replacing and upgrading building

systems as necessary. This financing will continue to provide 116 units of affordable housing for

the City of San Jose for the next 55 years.

The City of San Jose:

The City of San Jose is a member of the CMFA and will be asked to hold a TEFRA hearing.

Upon closing, the City is expected to receive approximately $14,333 as part of the CMFA’s

sharing of Issuance Fees.


Sources of Funds:




Equity: $ 13,856,497


Uses of Funds:






Capitalized Interest: $ 1,645,472

Third Party Reports: $ 172,000

Relocation: $ 144,000

Reserves: $ 2,000,000

Developer Fees: $ 3,000,000

Other Soft Costs: $ 1,680,789


Total Uses: $ 48,863,091


Amount: $31,000,000

Maturity: 17 years




Public Benefit:

A total of 116 families will continue to be able to enjoy high quality, independent, affordable

housing in the City of San Jose, California.






Unit Mix: 1-, 2- and 3-bedroom units


Finance Team:

Lender: TBD



Lender Counsel: TBD

Borrower Counsel: Cox, Castle & Nicholson LLP

Recommendation:


Resolution of $31,000,000 for Monte Vista Apartments affordable multi-family housing facility

located in the City of San Jose, Santa Clara County, California.








COLORADO PARK APARTMENTS


_____________________________________________________________

Applicant: Palo Alto Housing Corporation

Action: Final Resolution

Amount: $22,347,000


Facility Located in the City of Palo Alto, Santa Clara

County, California



Background:

Palo Alto's community leaders recognized that the issue of affordable housing in the City of Palo

Alto deserved attention. To address this concern, the City Council assisted in establishing the

Palo Alto Housing Corporation (“PAHC”) in 1970 as a private non-profit agency.

PAHC's mission has always been to foster, develop, acquire, and manage low- and moderate-

income housing in Palo Alto and the San Francisco Bay Area. Through its affiliated entities its

activities involve administration of the City of Palo Alto's Below Market Rate (BMR) Program

(PAHC Housing Services, LLC), development and/or acquisition of over 600 units of rental

housing (Palo Alto Housing Corporation), management of the properties it owns (PAHC

Management and Services Corporation) and general housing advocacy. Its properties are located

in all geographical areas of Palo Alto.

PAHC efforts are carried out by a professional staff and a volunteer Board of Directors. Board

members represent a broad range of skills in architecture, real estate, law, finance, construction,

business and management.

The PAHC is experienced and professional in the management of its properties. Its affiliate,

PAHC Management and Services Corporation, includes Director of Property Management,

Director of Services, property supervisors, a maintenance director, site managers, maintenance

workers and service coordinators.

The Project:

The Colorado Park Apartments is an affordable multifamily acquisition/rehabilitation project that

will consist of a 7-building, 60-unit garden walk up complex. These units are housed in six

separate two-story buildings. Overall, there are 8 one-bedroom, 24 two-bedroom, 22 three-

bedroom, and 6 four-bedroom units on the project. Four of these units will be market rate. The

seventh on-site building is the centrally located community building that has tall ceilings, laundry

room, bathrooms, ample space for resident activities, and a full service kitchen. The community

building also contains the manager’s office and the maintenance staff storage area. Each unit is

equipped with wall heaters, exhaust fans for bathrooms, 6 panel sliding closet doors,

CalGreen/Energy Star standard stoves and refrigerators, new vinyl flooring for bathrooms,

vertical blinds at patio and deck entries, a range hood for the kitchen, new light fixtures at each

front door and patio/balcony (with sensors), a garbage disposal and GFCI outlets for wet areas.

Additional outdoor seating will be provided; new barbecue areas, play structures, outdoor fitness

equipment and bicycle storage shed are also planned. The proposed new patio fencing is more

transparent, providing more lights into the units. The landscaping will replace most of the lawn

areas with drought tolerant planting. The building exteriors will be updated, using a new color

scheme, and materials that are more durable and sustainable. The existing T1-11 siding will be

replaced by a combination of horizontal fiber cement lap siding and fiber cement panels. The

process will include a concurrent replacement of the existing wall insulation with new R13

unfaced batts. New asphalt shingles built up roofing will be installed at the pitched roofs and vent

grills will be added to facilitate attic ventilation. The flat roof areas will receive a single ply

membrane roofing system. The proposed new awnings and sunshades will be constructed from

perforated aluminum panels. Additionally, several carports will be re-built and a photovoltaic

system will be installed. This combined with the solar thermal infrastructure that will be

incorporated on the community room roof. 55 apartment units will be restricted to residents with

household incomes no greater than 50% and 60% of the Area Median Income. The financing of

this project will result in the creation of 55 affordable apartments for the next 55 years in the City

of Palo Alto.

The City of Palo Alto:

The City of Palo Alto is a member of the CMFA and held a TEFRA hearing August 17, 2015.



Proposed Financing:

Sources of Funds: Construction Permanent

Tax-Exempt Bond: $ 22,347,000 $ 13,441,835

Accrued/ Deferred Interest: $ 342,577 $ 342,577

LIH Tax Credit Equity: $ 1,023,153 $ 11,329,527

Direct & Indirect Public Funds: $ 203,561 $ 203,561

Other (Withdrawal from Project Reserves): $ 268,415 $ 268,415

Other (Seller Carryback Loan): $ 10,716,696 $ 10,716,696

Total Sources: $ 34,901,402 $ 36,302,611

Uses of Funds:

Acquisition/ Land Purchase: $ 19,673,423

On & Off Site Costs: $ 1,083,208

Hard Construction Costs: $ 6,300,981

Architect & Engineering Fees: $ 416,209




Legal Fees: $ 105,000

Reserves: $ 798,008

Appraisal and Contingency Cost: $ 1,600,950

Construction & Permanent Financing: $ 1,392,344

Other Soft Costs (Marketing, etc.)*: $ 547,852

Total Uses: $ 36,302,611


Amount: $22,347,000

Maturity: 17 years



Estimated Closing: January 2016

Public Benefit:


City of Palo Alto, California.




Unit Mix: One-, two-, three- and four-bedrooms


Finance Team:

Lender: Bank of American, N.A.

Bond Counsel: Jones Hall APLC


Lender Counsel: Rutan Tucker LLP

Borrower Counsel: Gubb & Barshay LLP


Recommendation:

The Executive Director recommends that the CMFA Board of Directors approve a Final

Resolution of $22,347,000 for Colorado Park Apartments affordable multi-family housing facility

located in the City of Palo Alto, Santa Clara County, California.

LAS PALMAS APARTMENTS


_____________________________________________________________

Applicant: Eden Housing


Amount: $22,901,000


Facility Located in the City of San Leandro, Alameda

County, California



Background:

Eden Housing's Mission is to build and maintain high quality, well managed, service enhanced

affordable housing communities that meet the needs of lower income families, seniors, and

persons with disabilities.

Eden Housing was founded in May of 1968 by six community activists who were greatly

concerned about the lack of non-discriminatory, affordable housing in Alameda County. These

pioneers, working out of makeshift "headquarters" such as local coffee shops, were initiated into

affordable housing development by rehabilitating six older homes in Oakland for first time

homebuyer families.

Since those pioneering days, Eden Housing has developed or acquired more than 7,500 affordable

housing units within 100 properties that have provided homes for more than 65,000 people over

the years. Eden's housing now includes rental apartments, first-time homeowner opportunities,

cooperatives, and supportive living environments for families, seniors and people with

disabilities.

Eden Housing revitalizes California communities through their affordable housing development

and property management activities, the partnerships they establish and the investments they

make in California neighborhoods, and through the free social services and supportive programs

they provide to meet the needs of their residents.

This will be the tenth transaction that the CMFA has participated in with Eden Housing.

The Project:

The Las Palmas Apartments is an acquisition/ rehabilitation of an existing tax credit project. Las

Palmas Apartments was constructed in 1962 and is a 91-unit multifamily garden style low-rise

project located at 15370 & 15375 Tropic Court, San Leandro. The project is in need of substantial

rehabilitation. There are currently 69 restricted units and 22 market rate units. Eight of the

market rate units are anticipated to be converted to restricted units, which will make the project

86% affordable. The project is made up of one-, two- and three-bedroom units located in San

Leandro, CA. The scope of renovations will include unit interior rehabilitation, including new

carpet and flooring, new cabinets and countertops, as well as new appliances. Renovations will

also be done to the common areas and building exterior with an emphasis on making the project

more energy efficient and to promote water conservation. This financing will preserve 77 units of

affordable housing for the City of San Leandro for another 55 years.

The City of San Leandro:

The City of San Leandro is a member of the CMFA and held a TEFRA hearing on September 8,

2015. Upon closing, the City is expected to receive approximately $13,333 as part of the CMFA’s


Proposed Financing:


Tax-Exempt Bond: $ 22,901,000 $ 5,770,000

Developer Equity: $ 290,989 $ 1,662,281

Deferred Developer Fee: $ 1,043,243 $ 1,043,243


Direct & Indirect Public Funds: $ 1,166,458 $ 2,076,458

Seller Take Back Loan: $ 5,766,115 $ 5,766,115

Developer Perm Loan: $ 0 $ 5,00,0,000

Other Costs*: $ 944,179 $ 195,498

Total Sources: $ 33,292,246 $ 33,292,246

Uses of Funds:


Rehabilitation Costs: $ 7,078,073


Architect Fees: $ 510,000

Survey & Engineering: $ 510,000

Contingency Costs: $ 1,447,585

Permanent Financing Expenses: $ 124,694

Construction Period Expenses: $ 2,336,303



Local Permit Fees: $ 306,170

Capitalized Reserves: $ 250,684


Other Costs*: $ 547,736

Total Uses: $ 33,313,246


Amount: $22,901,000

Maturity: 17 years



Estimated Closing: January 2016

Public Benefit:


City of San Leandro, California.




Unit Mix: One-, two-, and three-bedrooms


Finance Team:

Lender: US Bank

Bond Counsel: Jones Hall APLC


Lender Counsel: Paul Hastings LLP

Borrower Counsel: Gubb & Barshay LLP


Recommendation:


Resolution of $22,901,000 for Las Palmas Apartments affordable multi-family housing facility

located in the City of San Leandro, Alameda County, California.







COPPER SQUARE APARTMENTS


_____________________________________________________________

Applicant: Inland Construction and Development Corporation


Amount: $25,000,000


Facility Located in the City of Lancaster, Los Angeles

County, California



Background:

Inland Group specializes in the development and construction of high density residential and

commercial projects. From affordable family housing developments to luxury resort

communities, independent living retirement communities and college residence halls.

Founded in 1973, Inland Group has provided its expertise in the construction, development, and

design of private and public projects across the western United States. Over the last thirty years,

the company has evolved into an industry leader in the construction and development of multi-

family housing.

Their construction services utilize the latest technologies, tools, and processes that enable them to

deliver high quality projects on time and on budget. They offer a full range of construction

services, including: preconstruction services, general contracting, construction management,

design development, value engineering, estimating, bid package development and project

closeout.

They approach development the right way. By utilizing their thorough understanding of

construction, they are able to take a realistic approach to project development that saves time,

money, and resources. Because every project is different, their ability to quickly identify and

address issues/challenges enables them to develop projects that succeed. They specialize in Site

Selection, Feasibility Analysis, Land Planning, Zoning & Entitlements, Planning & Design,

Marketing and Sales & Leasing.

The Project:

The Copper Square Apartments is an affordable multifamily new construction project that will

consist of a 204-unit housing community located in Lancaster, CA. The proposed Project will be

constructed on a 13.6 acre portion of a 19.48 acre vacant parcel in central Lancaster. The

remaining acreage is reserved for future phased development. The Project, which will consist of

9 three-story residential buildings, a single-story clubhouse building and 396 parking spaces; will

house 201 tenant units (39 one-bedroom units, 142 two-bedroom units and 20 three-bedroom

units) and 3 manager's units (1 one-bedroom unit, 1 two-bedroom unit and 1 three bedroom unit).

All tenant units will be income restricted; 21 units at 50% Area Median Income ("AMI") and 180

units at 60% AMI. Unit amenities will include refrigerator, microwave oven, range/oven,

dishwasher, ceiling fans, clothes washer and dryer, patio/balcony, carpeting, blinds and central

heat/AC. Community amenities will include a clubhouse, business center/computer lab,

basketball court, exercise facility, playground, on-site management, recreation and BBQ area,

swimming pool and a media/theater room. The financing of this project will result in the creation

of 201 affordable apartments for the next 55 years in the City of Lancaster.

The City of Lancaster:

The City of Lancaster is a member of the CMFA and held a TEFRA hearing on August 11, 2015.



Proposed Financing:


Tax-Exempt Bond: $ 20,840,000 $ 17,800,000

Subordinate Loan: $ 0 $ 2,040,000

Operating Income: $ 574,865 $ 574,865


Deferred Costs: $ 5,677,741 $ 1,249,851

Total Sources: $ 35,234,449 $ 35,234,449

Uses of Funds:


On & Off Site Costs: $ 3,805,081

Development Impact Fees: $ 4,045,536

Hard Construction Costs: $ 17,443,298

Architect & Engineering Fees: $ 806,000



Cost of Issuance: $ 1,266,575

Construction & Permanent Financing: $ 2,354,953

Reserves: $ 537,498

Legal: $ 80,000

Other Costs*: $ 715,508

Total Uses: $ 35,234,449


Amount: $25,000,000

Maturity: 17 years



Estimated Closing: February 2016

Public Benefit:


City of Lancaster, California. Services at the complex will include a resident lounge, computer

lab, game room, fitness center, pool, and barbeque area.




Unit Mix: One-, two- and three-bedrooms


Finance Team:




Lender Counsel: Eichner Norris & Neumann PLLC

Borrower Counsel: VLP Law Group

Financial Advisor: Miller Housing Advisors

Recommendation:


Resolution of $25,000,000 for Copper Square Apartments affordable multi-family housing

facility located in the City of Lancaster, Los Angeles County, California.







BRIAR CREST AND ROSECREST APARTMENTS


_____________________________________________________________

Applicant: Jamboree Housing Corporation


Amount: $9,000,000


Facility Located in the City of Garden Grove, Orange

County, California



Background:

Jamboree’s mission is to create opportunity for their residents with the homes they build and the

services they provide. It is an opportunity for families, seniors and those with special needs to

access homes they can afford, with distinctive resident services that are responsive and that

strengthen the community.

They achieve their mission through the development and construction of new affordable rental

and for-sale housing; the preservation of existing affordable housing units through acquisition and

rehabilitation; and partnerships with cities to develop broader community and economic

opportunities.

Founded in 1990 by the late Lila Lieberthal, a life-long affordable housing advocate, Jamboree

has experienced steady growth and geographic expansion. Today their portfolio includes

development and/or ownership interest of nearly 6,300 affordable homes in 61 California

communities – topping a market value of $1 billion.

This is CMFA’s fifth transaction with Jamboree Housing Corporation.

The Project:

The Briar Crest and Rosecrest Apartments is an acquisition/rehabilitation project consisting of a

41-unit multifamily rental housing project that was constructed in 1962 located at 11681, 11682,

11701, 11702 and 11762 Stuart Drive, in the City of Garden Grove, California. The project will

include the rehabilitation of the two existing structures. The project currently features five two-

story buildings, three laundry facilities, two pools, and an outdoor tot lot. A combination of

covered and uncovered parking spaces are provided for residents. The new design anticipates

upgrades to allow for compliance with ADA requirements, new countertops, sinks, gas-fired

furnaces, new appliances, and carpet flooring. Common area renovations will include roof repair,

exterior wall repair and parking lot repair. There will also be the construction of a tot lot, a

community building, and the reconfiguration of one studio unit as a leasing office. The units will

be restricted to households with incomes no greater than 60% of the Area Median Income. The

financing of this project will result in continuing to provide affordable housing for 40 families in

the City of Garden Grove for another 55 years.

The City of Garden Grove:

The City of Garden Grove is a member of the CMFA and held a TEFRA hearing July 28, 2015.

Upon closing, the City is expected to receive approximately $4,218 as part of CMFA’s sharing of

Issuance Fees.

Proposed Financing:


Tax-Exempt Bond: $ 7,000,000 $ 2,470,167

LIH Tax Credit Equity: $ 913,340 $ 4,566,700

Other (Subordinate Loan): $ $ 410,000

Other (NOI): $ 143,191 $ 143,191

Direct & Indirect Public Funds: $ 123,896 $ 123,896

Other (Seller Note): $ 5,474,192 $ 5,474,192

Other (Deferred Developer Fee): $ 311,566 $ 778,039

Total Sources: $ 13,966,185 $ 13,966,185

Uses of Funds:


Rehabilitation Costs: $ 3,688,373

Developer Overhead and Profit: $ 1,500,000

Architectural: $ 65,000

Survey & Engineering: $ 55,000

Contingency Costs: $ 482,039


Construction & Permanent Financing: $ 413,222

Reserves: $ 104,051

Soft Costs: $ 443,500

Total Uses: $ 13,966,185


Amount: $9,000,000

Maturity: 20 years




Public Benefit:

A total of 40 households will continue to be able to enjoy high quality, independent, affordable

housing in the City of Garden Grove, California. Services at the complex will include a

community room, laundry facility, barbeques, a tot lot and pool. This project will continue to

provide high quality, independent, affordable apartments for 40 households in the City of Garden

Grove, California for another 55 years.




Unit Mix: Studio, one-, two- and three-bedrooms


Finance Team:




Lender Counsel: Robinson & Cole LLP

Borrower Counsel: Rutan & Tucker, LLP

Disclosure Counsel: Eichner Norric & Neumann, PLLC

Recommendation:


Resolution of $9,000,000 for the Briar Crest and Rosecrest Apartments affordable housing project

located in the City of Garden Grove, Orange County, California.

FAMILY HEALTHCARE NETWORK

PROJECT SUMMARY AND RECOMMENDATIONS

_____________________________________________________________

Applicant: Family Healthcare Network


Amount: $15,250,000

Purpose: Finance Facilities for Family Healthcare Networks

located in the Cities of Porterville and Visalia, County of

Tulare, California.

Activity: Healthcare Facilities


Background:

Family Healthcare Network (the “Corporation”) is a nonprofit public benefit corporation. The

Corporation is a ‘safety-net provider’ that is currently licensed as a community clinic with the

California Department of Public Health and is also licensed as a Federally Qualified Health

Center. In 1997, the Corporation became the first freestanding ambulatory care center in its

service are to be accredited by the Joint Commission on Accreditation of Healthcare

Organizations.

Established in 1976 and incorporated in 1978 under the name “Porterville Family Health Center,

Inc.”, the Corporation was originally formed by a group of community advocates to “promote and

improve rural health” in the area surrounding Portville, California. In 1995, the Corporation

merged with “Family Planning Program Incorporated, a California nonprofit public benefit

corporation, and changed its name to “Family Health Care Network.” Beginning with only one

clinic, the Corporation increased its size to eleven health clinics located throughout Tulare and

Kings Counties. Currently, it maintains thirteen facilities, including its corporate and finance

offices located in Visalia, California. The Corporation is operated as a multi-site health care

system with centralized administrative functions, whereby all clinical facilities utilize the

experience and expertise of centralized staffing for billing, collections, financial reporting, and

general administrative oversight. Through its network of facilities, the Corporation offers

members of the rural communities in Tulare and Kings counties a full range of health services

including Family Medicine, Internal Medicine, Pediatrics, Obstetrics and Gynecology, Family

Planning, Dentistry, Clinical Laboratory, Radiology, Mammography, Ultrasound, Integrated

Complementary Alternative Medicine, Pharmacy, Health Education and Promotion, Translation,

Integrated Behavioral Health, Nutritional Counseling, Community Outreach and Transportation

services.

Since its founding 35 years ago, the Corporation has adhered to its original missions of

integrating “available resources for a rural health care program in the Porterville area of Tulare

County,” promoting and improving “rural health by all means necessary,” and administering a

“rural health program” that conforms to all federal and state guidelines. By serving the two most

bountiful agricultural counties in the country, the Corporation delivers preventative and primary

care to a substantial number of people living in rural areas. The majority of the Corporation’s

patients live at or below the established federal poverty income levels and qualify for Medi-Cal

due in large part to low wages and lack of fringe benefits or medical insurance.

The Corporation now serves approximately 106,000 patients annually through over 513,350 total

encounters. The Corporation has experienced sustained growth over many years due to the

region’s high demand for primary health care services. Due to such high demand, the Corporation

has increased its total encounters and total revenue by nearly 58% since the Corporation’s fiscal

year 2005.

The Corporation has 11 facilities located in the rural parts of Tulare and Kings Counties in

California, which are collectively referred to herein as the “Facilities”. Through its clinical

Facilities, the Corporation provides comprehensive medical and dental care in a “patient-centered

health-home environment” to the cities, including the surrounding communities, of Porterville,

Visalia and Hanford located in the Tulare and Kings Counties.

The Project:

The proceeds of the Bonds will be used to (a) refund the outstanding California Municipal

Finance Authority Insured Revenue Bonds (Family HealthCare Network.), 2008 Series A, issued

to make a loan to FHCN to (i) refinance a loan incurred to finance the construction of FHCN’s

Oak Center facility, located at 400 East Oak Avenue in Visalia, California, (ii) finance the

construction of renovations to FHCN’s Porterville facility located at 1107 West Poplar Avenue in

Porterville, California, (iii) finance the construction of a building expansion, a storage building

and a parking lot, including land preparation costs, adjacent to FHCN’s existing Porterville

facility, to be located at 1137 West Poplar Avenue in Porterville, California, (iv) finance

construction of an expansion of FHCN’s Cutler-Orosi facility located at 12586 Avenue 408 in

Orosi, California, and (v) finance the acquisition of furnishings, computer equipment and

software, and practice management systems, to be used at all of FHCN’s facilities, all facilities

owned and operated by FHCN in connection with the provision its community health care

services (collectively, the 2008 Project”), and (b) refund the outstanding California Municipal

Finance Authority Insured Revenue Bonds (Family HealthCare Network.), 2011 Series A, and the

outstanding California Municipal Finance Authority Insured Revenue Bonds (Family HealthCare

Network.), 2011 Series B, issued to (i) finance the acquisition of a parcel of land located at 332

North Bridge Street, Visalia, California, adjacent to its existing Visalia Oak facility, and to

construct thereon an approximately 27,000 square foot, two-story health center providing 12

dental operatories and 44 medical exam rooms, and (ii) finance the construction of an

approximately 4,000 square foot building on the campus of its Porterville Health Center at 1107

West Poplar Avenue, Porterville, California, providing 12 dental operatories, all facilities owned

and operated by FHCN in connection with the provision its community health care services;

The County of Tulare:

The County of Tulare is a member of the CMFA and will hold a TEFRA hearing January 26,

2016. Upon closing, the County is expected to receive up to $7,541 as part of the CMFA’s


Proposed Financing:

Sources of Funds:

Tax-Exempt Bonds: $ 15,042,000

Prior Debt Service Reserve Fund: $ 1,328,105

Prior Issue Construction Fund: $ 1540,318

Equity: $ 1,900,000


Uses of Funds:

Refunding Escrow Deposits: $ 18,511,032

Additional Proceeds: $ 378


Total Uses: $ 18,810,422


Amount: $15,250,000

Maturity: February 2042

Collateral: Deed of Trust on property & Revenue Fund Pledge



Public Benefit:

Additional healthcare services will be provided to the residents of Tulare County. Family

HealthCare Network is one of the largest employers in Tulare County as well as the largest

Primary Care Provider. Family HealthCare Network serves approximately 106,000 clients per

year, providing over 513,350 annual visits regardless of cultural barriers and clients’ ability to

pay. The financing will expand the services offered; provide upgraded facilities and equipment

while being fiscally responsible to the communities Family HealthCare Network serves.

Finance Team:

Placement Agent: Piper Jaffray & Co.

Bond Purchaser: Umpqua Bank

Bond Counsel: Quint & Thimmg LLP

Issuer’s Counsel: Jones Hall, APLC

Purchaser’s Counsel: Nixon Peabody LLP

Borrower’s Counsel: Wilson Law Group, PC

Financial Advisor: H.G. Wilson Municipal Finance Inc.

Recommendation:

The Executive Director recommends that the CMFA Board of Directors adopt a Final Resolution

in the amount of $15,250,000 to refund a healthcare facility located in the City of Porterville,

Tulare County, California.

THE PALMDALE AEROSPACE ACADEMY


_____________________________________________________________

Applicant: The Palmdale Aerospace Academy


Amount: $50,000,000

Purpose: Finance Educational Facilities located in the City of

Palmdale, Los Angeles County, California.

Activity: Charter School


Background:

Design, Create, Explore, LLC (the "Borrower") is a California limited liability company whose

sole member is The Palmdale Aerospace Academy Foundation, a California nonprofit public

benefit corporation

The Palmdale Aerospace Academy, Inc. ("TPAA" or the "Tenant") is a California nonprofit

public benefit corporation and an organization described in Section 501(c)(3) of the Internal

Revenue Code of 1986, as amended (the "Code"). The purpose of TPAA is to manage, operate,

guide, direct, and promote The Palmdale Aerospace Academy (A California Public Charter

School) (the "Charter School" or "School"). The Charter School became a charter school that was

petitioned July 7, 2011, through the Palmdale School District (the "District") and approved by the

State of California Department of Education on November 10, 2011. The Charter School provides

a traditional educational program, and its mission statement emphasizes science, technology,

engineering, and mathematics (STEM). The Charter School is supported primarily by the State

apportionment revenues generated by the student average daily attendance.

The Charter School is an independent charter school located in the heart of "Aerospace Valley" in

Palmdale, California. It was created as a partnership between the City of Palmdale, the District

and National Aeronautics and Space Administration's ("NASA") AERO Institute (the "AERO

Institute") to address workforce development needs in the community. The AERO Institute is a

501(c)(3) partnership of individuals; federal, State and regional governments; commercial

companies; academic institutions; and non-profits engaged in broad reaching research and

operations programs as well as addressing the need for technically skilled workforce for the

United States in the 21st century. To develop the necessary pipeline of students, the AERO

Institute also supports STEM education at all levels.

The Charter School's demographics mirror those of the District and the Charter School serves a

population impacted by poverty and lack of English proficiency. As of September 9, 2015,

approximately 78% of the students qualify for federal free/reduced lunch program, students come

from a variety of backgrounds and TPAA has support for 6.15% special needs students.

The Charter School currently operates from a complex of buildings, which total approximately

90,000 square feet on approximately 12 acres of land located at 38060 20th Street East, Palmdale,

California (the "Current Facility"). TPAA currently leases the Current Facility from the District

pursuant to a Facilities Lease Agreement.

The Project:

The proceeds of the Bonds will be used to (1) the acquisition of land located on the southwest

corner of E. Palmdale Blvd/35th Street East, in the City of Palmdale, California 93550, and the

construction and equipping of improvements, including, but not limited to, the construction of an

educational facility; (2) capitalized interest, if necessary, with respect to the Bonds; (3) a reserve

fund with respect to the Bonds; and (4) certain expenses incurred in connection with the issuance

of the Bonds, including any applicable credit enhancement costs for the Bonds.

The City of Palmdale:

The City of Palmdale is a member of the CMFA and held a TEFRA hearing January 6, 2016.

Upon closing, the City is expected to receive up to $13,333 as part of the CMFA’s sharing of

Issuance Fees.

Proposed Financing:

Sources of Funds:


Taxable Bonds: $ 500,000


Uses of Funds:


New Construction: $ 35,700,000

Capitalized Interest: $ 2,900,000

Debt Service Reserve Fund: $ 3,200,000

Costs of Issuance: $ 1,200,000

Total Uses: $ 45,000,000


Amount: $50,000,000

Maturity: February 2046

Collateral: Deed of Trust

Bond Purchasers: Institutional & Accredited Investors

Expected Rating: BB+


Public Benefit:

The Palmdale Aerospace Academy provides a high quality and innovative education to students

in the Los Angeles County area. The educational program prepares graduates for college and

careers in the 21st century, aligned with the workforce needs in the local area and beyond, with an

emphasis on science, technology, engineering, and mathematics. The school operates a round a

strong community partnership with its students, teachers and aerospace industry employers.

Finance Team:

Underwriter: Robert W. Baird & Co.

Bond Counsel: Kutak Rock LLP


Underwriter Counsel: Quarles & Brady LLP

Borrower’s Counsel: Dentons US LLP

Rating Agency: Standard & Poors

Financial Advisor: Buck Financial Advisors LLC

Recommendation:


in the amount of $50,000,000 to finance educational facilities located in the City of Palmdale, Los

Angeles County, California.

GINDI MAIMONIDES ACADEMY


_____________________________________________________________

Applicant: Gindi Maimonides Academy


Amount: $10,000,000

Purpose: Finance Educational Facilities located in the City of Los

Angeles, Los Angeles County, California.

Activity: Private School


Background:

Gindi Maimonides Academy was founded in 1968 to provide a superior and diverse educational

experience for its students. The School began with fewer than 15 students and has grown to serve

nearly 300 families and over 500 students.

Gindi Maimonides Academy is committed to achievement. They teach the children to be prideful

and inspired to lead ethical lives as dedicated B’nei Torah and proud Americans. Whether the

children are learning Torah, performing Mitzvot or engaging society in a meaningful manner,

Gindi’s students are inspired to challenge themselves and their perceived boundaries.

Curiosity is at the forefront of every curriculum objective that the Academy undertakes. The

warm and nurturing environment stimulates children to embrace learning with a passion that is

unmatched – the trademark of a “Maimonides” education. Gindi’s motto, “The Maimonides

Way,” has been developed to provide a harmonious and integrated Judaic and General studies

education, which meets the highest standards.

The Academy is a member of the California Association of Independent Schools (CAIS) and of

the Western Association of Schools and Colleges (WASC), which set the standards for the finest

private schools throughout the state of California. In order to be considered and maintain its

membership in CAIS, Gindi Maimonides Academy must demonstrate a commitment to

excellence in the physical, intellectual, moral and social development of students. It must be

college preparatory, offering small classes, a rich curriculum and individual attention. The school

is also a member of the Educational Records Bureau (ERB), and the Bureau of Jewish Education

(BJE).

The Project:

The proceeds of the Bonds will be used to (a) financing and refinancing a portion of the

acquisition, construction, renovation, improvement and equipping of certain educational facilities,

including related administrative facilities, site improvements, and parking, including but not

limited to construction or renovation of facilities for classroom instruction in science, technology,

engineering, arts, music and mathematics, library facilities and related facilities thereto to be

located on the Borrower’s main campus, the address of which is 8511 Beverly Place in the City of

Los Angeles, California; (b) funding a debt service reserve fund; and (c) the payment of certain

expenses incurred in connection with the issuance of the Bonds.


The City of Los Angeles is a member of the CMFA and will hold a TEFRA hearing January 19,

2016. Upon closing, the City is expected to receive up to $6,666 as part of the CMFA’s sharing of

Issuance Fees.

Proposed Financing:

Sources of Funds:


Equity: $ 15,300,000


Uses of Funds:


New Construction: $ 19,000,000

Soft Costs*: $ 2,000,000


Total Uses: $ 25,300,000


Amount: $10,000,000

Maturity: February, 2026




Public Benefit:

The financing will allow the Gindi Maimonides Academy to better serve its students. The

improvements to the campus will help promote significant growing opportunities for the creation

and retention of employment to the California economy and the enhancement of the quality of life

to residents in and around the City of Los Angeles.

Finance Team:

Lender: Israel Discount Bank

Bond Counsel: Squire Patton Boggs LLP


Lender’s Counsel: Emmet, Marvin & Martin, LLP

Borrower’s Counsel: Law Offices of Rossi A. Russell

Financial Advisor: Prager & Co., LLC

Recommendation:


in the amount of $10,000,000 to finance an educational facility located in the City of Los

Angeles, Los Angeles County, California.

PERFORMANCE REVIEWS

_____________________________________________________________

Subject: Performance Reviews of Professional Service Providers


Background:

With respect to any engagement for professional services with the duration of at least one (1)

year, the Board shall conduct a review on a periodic basis to assess and evaluate the performance

of the service provider. Such review and assessment shall be conducted at least annually, but

may be undertaken more frequently on an “as-needed” basis. The Board may also deliver any

performance feedback on an “as-needed” basis. If permitted to terminate an engagement prior to

its stated terms, such termination may be based upon the findings and determinations of the

performance review.

As part of the periodic review and assessment of a service provider, the Board may evaluate the

competiveness of the fees and expenses charged for such services delivered. The Board may also

review whether the fees are commensurate with the service and value provided to the CMFA and

shall ensure that public funds are expended for measurable, competitively-priced goods and

services for all contractors. With respect to any engagement for professional services with the

duration of at least three (3) years, such evaluation shall occur at least once every three (3) years

by the Board. Based upon the evaluations, the Board may take appropriate actions including the

amending of certain terms of an engagement or early termination of such engagement for

professional services.

Recommendation:

The Executive Director recommends that the CMFA Board of Directors review the performance

of the CMFA Executive Director, Deutschman Communications Group, Joe A. Gonsalves & Son,

Jones Hall APLC, and Sierra Management Group, LLC of the Authority.

Current 2015-2016 Board Positions

_____________________________________________________________

CMFA

Deborah A. Moreno - Chairperson and Assistant Treasurer

Paula Connors - Vice Chairperson

Justin McCarthy - Treasurer

Faye K. Watanabe - Secretary

Bob Adams- Director

CFSC

Justin McCarthy - Chairperson and Assistant Treasurer

Faye K. Watanabe - Vice Chairperson

Deborah A. Moreno - Treasurer

Paula Connors - Secretary

Bob Adams- Director

Subcommittees:

Audit Subcommittee: Deborah Moreno and Bob Adams

Finance Subcommittee: Faye Watanabe and Deborah Moreno

Professional Services Subcommittee: Paula Connors and Justin McCarthy.

AUDIT FIRM ENGAGEMENT


_____________________________________________________________

Subject: Audit Firm Engagement


Discussion:

The CMFA and CFSC are required to have an audit of the general purpose financial statements

conducted each year by an independent audit firm. Since 2013, the CMFA & CFSC have utilized

Macias Gini & O’Connell (“MGO”) for audit services. MGO recently completed the last year of

their three year engagement. All three years were completed on time and for the agreed upon

amount. Listed below are the fees for the most recent 2015 audit as well as the MGO fee

proposal for the next three years.

Proposed Fees

2015 2016 2017 2018

CMFA Audit 23,344 23,900 24,100 24,300

CFSC Audit 8,192 8,200 8,300 8,400

CFPF Tax Return 2,960 3,000 3,030 3,060

34,496 35,100 35,430 35,760

Recommendation:

The Executive Director and the Audit Committee recommend the firm of Macias Gini &

O’Connell be retained to conduct the 2016-2018 CMFA and CFSC audits and tax return.

NON-PROFIT MEMBERSHIP


_____________________________________________________________

Action: Discuss and Approve

Purpose: Approve CMFA’s Membership with Various Non-Profits


Background:

Discuss and Approve CMFA’s membership with the following Non-profits; California Council

for Affordable Housing, California Housing Consortium, California Society of Municipal Finance

Officers, Council of Development Finance Agencies, GFOA, Healthcare Financial Management

Association, Housing California, Kennedy Commission, Non-Profit Housing Association of

Northern California, SCANPH, San Diego Housing and Women in Public Finance memberships.

Estimated Fees:

California Council for Affordable Housing - $750

California Housing Consortium - $1,000

California Society of Municipal Finance Officers - $110

Council of Development Finance Agencies - $1,575

GFOA - $225

Healthcare Financial Management Association - $315

Housing California - $300

Kennedy Commission - $250

Non-Profit Housing Association of Northern California - $210

SCANPH - $300

San Diego Housing - $550

Women in Public Finance - $0

Recommendation:

The Executive Director recommends that the CMFA Board of Directors approve membership in

various nonprofits throughout California.

ADDITIONAL MEMBERS OF THE AUTHORITY

_____________________________________________________________

Subject: Additional Members of the Authority


Background:

Per Section 12 of the Joint Exercise of Powers Agreement relating to the California Municipal

Finance Authority, titled “Additional Members/Withdrawal of Members.”

Qualifying public agencies may be added as parties to this Agreement and become Members

upon: (1) the filing by such public agency with the Authority of an executed counterpart of this

Agreement, together with a copy of the resolution of the governing body of such public agency

approving this Agreement and the execution and delivery hereof; and (2) adoption of a resolution

of the Board approving the addition of such public agency as a Member. Upon satisfaction of

such conditions, the Board shall file such executed counterpart of this Agreement as an

amendment hereto, effective upon such filing.

The following entities are awaiting the adoption of a resolution of the CMFA Board of Directors

approving the addition of such public agency as a Member: cities of Coalinga, Firebaugh, Fowler,

Orange Cove, Reedley, Sanger, Delano, McFarland, Taft, Hanford, La Mesa and Dinuba.

Recommendation:

The Executive Director recommends that the CMFA Board of Directors adopt a Resolution

evidencing its approval of additional Members of the Authority.

4:59 PM 01/13/16 Accrual Basis

California Municipal Finance Authority

Statement of Income and Expense vs. Budget July through December 2015

Jul - Dec 15 Budget $ Over Budget

Ordinary Income/Expense

Income

Annual Fee Income 1,390,395 1,225,000 165,395

Application Fee Income 39,000 0 39,000

Issuance Fee Income 1,106,682 875,000 231,682

Total Income 2,536,077 2,100,000 436,077

Gross Profit 2,536,077 2,100,000 436,077

Expense

Bank Service Charges 2,799 4,000 -1,201

Charitable Grants - Restricted 0 5,000 -5,000

Charitable Grants -Unrestricted 730,916 463,090 267,826

Insurance 39,746 38,160 1,586

JPA Member Distributions 258,687 288,750 -30,063

Marketing 11,005 26,000 -14,995

Miscellaneous 288

Office Supplies 672

Outside Services 0 0 0

Professional Fees 1,390,730 1,257,500 133,230

Travel & Entertainment 6,494 6,000 494

Total Expense 2,441,337 2,088,500 352,837

Net Ordinary Income 94,740 11,500 83,240

Other Income

Interest Income 542 500 42

Other Expense

Other Expense 0 2,000 -2,000

Net Other Income 542 -1,500 2,042

Net Income 95,282 10,000 85,282

Page 1 of 1



Statement of Financial Income & Expense

Jul - Dec 15 Jul - Dec 14 $ Change


Income

Annual Fee Income 1,390,395 1,176,775 213,620

Application Fee Income 39,000 15,000 24,000

Issuance Fee Income 1,106,682 613,637 493,045

Total Income 2,536,077 1,805,412 730,665

Gross Profit 2,536,077 1,805,412 730,665

Expense

Bank Service Charges 2,799 2,915 -116

Charitable Grants - Restricted 0 3,063 -3,063

Charitable Grants -Unrestricted 730,916 513,181 217,735

Insurance 39,746 25,654 14,092

JPA Member Distributions 258,687 156,960 101,727

Marketing 11,005 12,168 -1,163

Miscellaneous 288 0 288

Office Supplies 672 0 672

Outside Services 0 0 0

Professional Fees 1,390,730 1,014,862 375,868

Travel & Entertainment 6,494 4,564 1,930

Total Expense 2,441,337 1,733,367 707,970


Other Income/Expense


Total Other Income 542 373 169

Net Income 95,282 72,418 22,864

Page 1 of 1



Statement of Financial Position

Dec 31, 15 Dec 31, 14 $ Change

ASSETS

Checking/Savings

Wells CDLAC (#8131) 1,964,340 1,544,503 419,837

Wells Checking (#4713) 590,664 536,563 54,101

Total Checking/Savings 2,555,004 2,081,066 473,938

Accounts Receivable 114,065 106,787 7,278

Other Current Assets

Prepaid Expenses 42,737 49,433 -6,696

TOTAL ASSETS 2,711,806 2,237,286 474,520

LIABILITIES & EQUITY

Liabilities

Accounts Payable 90,197 101,131 -10,934

Accrued Expenses 20,051 7,581 12,470

Refundable Deposits

CDIAC/CDLAC Prepaid Filing Fees 0 11,650 -11,650

Refundable Deposits - Other 1,964,340 1,507,853 456,487

Total Refundable Deposits 1,964,340 1,519,503 444,837

Total Other Current Liabilities 1,984,391 1,527,084 457,307

Total Liabilities 2,074,588 1,628,215 446,373

Equity

Retained Earnings 541,936 536,655 5,281

Net Income 95,281 72,418 22,863

Total Equity 637,217 609,073 28,144

TOTAL LIABILITIES & EQUITY 2,711,806 2,237,286 474,520

Page 1 of 1

INFORMATIONAL ITEMS FOR THE CMFA


_____________________________________________________________

Item: Administrative Issues; A., B., C., D., E.

Action: Each meeting, the board has the opportunity to discuss,

without taking any formal actions on items;

A. Executive Director Report

B. Marketing Update

C. Membership Update

D. Transaction Update

E. Legislative Update

_____________________________________________________________

PROCEDURAL ITEMS FOR THE CFSC

SUMMARY AND RECOMMENDATIONS _____________________________________________________________ Items: A1, A2, A3 Action: Pursuant to the by-laws and procedures of CFSC, each

meeting starts with the call to order and roll call (A1) and proceeds to a review and approval of the minutes from the prior meeting (A2). After the minutes have been reviewed and approved, time is set aside to allow for comments from the public (A3).

_____________________________________________________________

Name Nominated Page #

Desert Hot Springs Microloan, Inc. 01/15/2016 7

Alzheimer's Family Services Center 12/11/2015 1

Home on the Green Pastures 12/11/2015 11

Inland Counties Regional Center, Inc. 12/11/2015 12

OneOC 12/11/2015 15

St. Vincent de Paul Village, Inc. dba Father Joe's Villages 11/20/2015 17

The Pure Game 11/20/2015 20

Casa Cornelia Legal Center aka Casa Cornelia Law Center 10/30/2015 2

Children's Law Center of California 10/30/2015 5

Wildlife Waystation, Inc. 10/30/2015 22

Tomorrow's Aeronautical Museum 10/09/2015 21

Centro Latino for Literacy 09/18/2015 4

Inner-City Arts 09/18/2015 13

Los Angeles Regional Food Bank 09/18/2015 14

Families for Children 08/28/2015 9

Hispanic Chamber of Commerce Education Foundation 08/28/2015 10

Desert AIDS Project 08/07/2015 6

DesertArc 08/07/2015 8

CCEF (California Consortium of Educational Foundations) 06/26/2015 3

Phoenix Learning Center Program of Julian Charter School, Inc.12/12/2014 16

The Children's Village of Sonoma County 10/10/2014 18

The Leukemia & Lymphoma Society 03/21/2014 19

Index of CharitiesName Page #List Date

Alzheimer's Family Services Center 112/11/2015

Casa Cornelia Legal Center aka Casa Cornelia Law Center 210/30/2015

CCEF (California Consortium of Educational Foundations) 36/26/2015

Centro Latino for Literacy 49/18/2015

Children's Law Center of California 510/30/2015

Desert AIDS Project 68/7/2015

Desert Hot Springs Microloan, Inc. 71/15/2016

DesertArc 88/7/2015

Families for Children 98/28/2015

Hispanic Chamber of Commerce Education Foundation 108/28/2015

Home on the Green Pastures 1112/11/2015

Inland Counties Regional Center, Inc. 1212/11/2015

Inner-City Arts 139/18/2015

Los Angeles Regional Food Bank 149/18/2015

OneOC 1512/11/2015

Phoenix Learning Center Program of Julian Charter School, Inc. 1612/12/2014

St. Vincent de Paul Village, Inc. dba Father Joe's Villages 1711/20/2015

The Children's Village of Sonoma County 1810/10/2014

The Leukemia & Lymphoma Society 193/21/2014

The Pure Game 2011/20/2015

Tomorrow's Aeronautical Museum 2110/9/2015

Wildlife Waystation, Inc. 2210/30/2015

Alzheimer's Family Services Center9451 Indianapolis Avenue

Huntington Beach , CA 92646

www.afscenter.org95-3463975 Founded: 2007

Previous Donation: Yes No

OrangeCounty

Mission:Alzheimer’s Family Services Center was the first dementia care program established in OrangeCounty and has been improving the quality of life for families challenged by dementias for 35years.Alzheimer’s Family Services Center is the only day care facility in Orange County dedicatedexclusively to the care of people with Alzheimer’s or another dementia.

Our mission is to improve quality of life for families challenged by Alzheimer’s disease or anotherdementia through services tailored to meet individual needs.Our vision is to be the premier provider of innovative programs and services dedicated tocompassionate, individualized care that improves the lives of individuals and families living withdementia.

Impact:A donation would assist the organization in the continuance of their mission

Financial Information: IRS Form 990 for FY 2015

Revenues: Amount %

Government/EarnedContributionsOther

Total Revenue:Expenses:

ProgramAdministrationFund Raising

Total Expenses:Excess/(Deficit) ofRevenues Over Expenses:

Net Assets:BOD:

$2,361,7962,392,819

456$4,755,071

49.7%50.3%0.0%

100.0%

$3,502,057256,241298,744

$4,057,042

$698,029

86.3%6.3%7.4%

100.0%

$2,076,978

Mary Lou Shattuck; Richard Milo; Tiffany Scurry; Peter Foulke; James Remick;LarryBrose; William Burding; Gfregory R. Joslyn; Martin Kleinhart; Lisa LaFourcade; ThomasM. Linden; Gwyn Parry; Douglas A. Schaaf; Hong Shune; Tom Sparks; Michael Stephens

1

Notes

12/11/2015List Date

FEIN

Casa Cornelia Legal Center aka Casa Cornelia Law Center2760 Fifth Avenue, Suite 200San Diego , CA 92103

www.casacornelia.org33-0719221 Founded: 1997


San DiegoCounty

Mission:Casa Cornelia Law Center (CCLC) is a 501(c)(3) public interest law firm providing quality legalservices to victims of human and civil rights violations. CCLC has a primary commitment toindigent persons within the immigrant community in Southern California. CCLC seeks to educateothers regarding the impact of immigration law and policy on the community and the publicgood. The mission and spirit of CCLC is rooted in the tradition of service of the Society of theHoly Child Jesus and that of its founder, Cornelia Connelly. It encompasses the belief that Godhas chosen to need men and women in every age to reveal God's love and to make known thereality of God's saving presence through their service to others. CCLC seeks to foster a spirit ofsimplicity, honesty, kindness, and cheerfulness among colleagues and with those served. It haschosen Thomas More as the exemplar of these qualities to mark its practice of law.

Impact:A donation would assist the organization in the furtherance of their mission.


Revenues: Amount %





Net Assets:BOD:

986,47815,498

$1,001,976

98.5%1.5%

100.0%

$824,045129,887157,923

$1,111,855

($109,879)

74.1%11.7%14.2%

100.0%

$672,865

James F. Vargas; Lucy Howell; John Pacheco; Matt Mahoney; Margie Carroll; James D.Crosby; Mary Doyle; Barbara DeConcini; Ann Durst; Molly Gavin; Carlee Harmonson;Amy Romaker; Marcia Sichol; Jimmy Tabb; Jerry Trippitelli

2

4/27/2012$10,000

Notes

10/30/2015List Date

FEIN

CCEF (California Consortium of Educational Foundations)PO Box 19290

Stanford , CA 94309

www.cceflink.org94-3080595 Founded: 1982


Santa ClaraCounty

Mission:The vision of CCEF is to ensure that there are adequate resources to deliver a high-qualityeducation to every child in California. CCEF’s mission is to enable all local education foundationsto have the knowledge, capacity, and resources to effectively support education in theircommunities. Improve the capacity of local education foundations to effect positive communityengagement, resource development, and educational outcomes for every student in California’spublic schools. Be the trusted voice for all local education foundations in California by advocatingfor statewide awareness and policies that better support the work they do. Promote leadingpractices and standards for nonprofit organizations by being an efficient, ethical, and effectivestatewide coalition and by sharing best practices among local education foundations. Increasesustainable revenue from diversified sources to build our own capacity to deliver services andsupport the crucial work we do on behalf of local education foundations.

Impact:A donation would assist the organization in the furtherance of their mission


Revenues: Amount %





Net Assets:BOD:

$15,005720

12,677$28,402

52.8%2.5%

44.6%100.0%

$35,3284,684

502$40,514

($12,112)

87.2%11.6%1.2%

100.0%

$13,364

Caroline O. Boitano; Joan Fauvre; Wayne Padover; Tom Delapp; Lawrence M. Schwab;Linda Greenberg Gross; David Cash; Neal Waner

3

Notes

6/26/2015List Date

FEIN

Centro Latino for Literacy1709 W. 8th Street, Suite A

Los Angeles , CA 90017

www.centrolatinoliteracy.org95-4324579 Founded: 1991


Los AngelesCounty

Mission:Centro Latino continues to work on bridging the skills gap between Leamos™ and the beginningEnglish curricula offered by our education partners. Our vision is that non-literate adult Spanishspeakers have the opportunity to become functionally bi-literate (Spanish and English).Our priorities include: Continuing Pre-ESL Literacy and ESL classes and training at CentroLatino’s 8th Street Education classrooms; Piloting new lessons to optimize our web-based courseMoving the current classroom based Listos™ curriculum to a web-based platform, offering it as asecond level of Leamos™; Expanding strategic partnerships to continue serving the needs of non-literate adult Spanish speakers in Los Angeles County (over 222,000), and; Developing a businessstrategy to support a gradual transition into a self-sustaining social enterprise

Impact:A donation would assist the organization in the continuance of their mission.


Revenues: Amount %





Net Assets:BOD:

$13,109429,720

256$443,085

3.0%97.0%0.1%

100.0%

$467,71874,98732,900

$575,605

($132,520)

81.3%13.0%5.7%

100.0%

$262,261

Gary Kosman; Iris Arvizu; Leah R. Cooper; M. Bruce Gumbiner; Arlene Cembrano;Armando L. Gonzalez; Eduardo Martorell; Cynthia Mendoza; Les Traub; Marcos A. Cajina;Donald Nollar; Fernando M. Olguin

4

Notes

9/18/2015List Date

FEIN

Children's Law Center of California201 Centre Plaza Drive

Monterey Park , CA 91754

www.clccal.org95-4252143 Founded: 1990


Los AngelesCounty

Mission:Children’s Law Center of California (CLC) is a non profit, public interest law firm that provideslegal representation for tens of thousands of children impacted by abuse and neglect. Weprovide an unparalleled level of expertise in and out of the courtroom. Our highly skilled,passionate and committed attorneys, investigators, and support staff fight to ensure the wellbeing and future success of our clients through a multi-disciplinary, independent and informedapproach to advocacy. We are a powerful voice for our clients fighting for family reunification,permanence, educational opportunity, health and mental health services, self-sufficiency andoverall well-being. We are a driving force in local, statewide and national policy change and childwelfare system reform.

They have offices in Los Angeles, Sacramento, and LancasterImpact:A donation would assist them in their mission

Financial Information: IRS Form 99p for FY 2013

Revenues: Amount %





Net Assets:BOD:

$21,313,282500,326

4,212$21,817,820

97.7%2.3%0.0%

100.0%

$19,168,2682,682,974

8,756$21,859,998

($42,178)

87.7%12.3%0.0%

100.0%

$4,837,190

Richard E. Drooyan; Rusty Areias; Gerald Caplan; Frank C. Damrell; Alexandra Denman;Paul L. Reese, Jr.; Leslie Starr Heimov; Rex S. Heinke; Tom Holliday; Nancy Platt Jacoby;Barbara Yanow Johnson; Jo Kaplan; Neal Kaufman; Edward P. Lazarus; Jan Levine;Joseph D. Mandel; Jennifer Perry Tom Pfister; Patricia Phillips; Darrell Steinberg

5

Notes

10/30/2015List Date

FEIN

Desert AIDS Project1695 N. Sunrise Way

Palm Springs , CA 92262

www.desertaidsproject.org33-0068583 Founded: 1984


RiversideCounty

Mission:Desert AIDS Project is a comprehensive HIV/AIDS service provider, operating an on-site medicalclinic, dental clinic, behavioral clinic and a full range of client support services. DAP providescomprehensive HIV education and prevention service including free and confidential HIV testing.

Impact:A donation will contribute to continuing operation of the organization.


Revenues: Amount %





Net Assets:BOD:

$14,447,8546,868,904

218,287$21,535,045

67.1%31.9%1.0%

100.0%

$15,967,8021,937,049

829,327$18,734,178

$2,800,867

85.2%10.3%4.4%

100.0%

$12,623,343

Stephen R. Winters; Gregory E. Seller; Lanny Seese; Sheila A. Williams; Garry C. Kief;Jim Casey; Temi Ketover; Ted Briggs; Keven Bass; Carolyn Caldwell; Robert J. Karl Jr.;Steve Kaufer; Bruce J. Purdy; Curtis Ringness; Frederick J. Drewette; Tammy Fox; SteveLachs; Barbara Keller

6

8/7/2015$10,000

Notes

8/7/2015List Date

FEIN

Desert Hot Springs Microloan, Inc.66860 3rd Street

Desert Hot Springs , CA 92240

None47-4516575 Founded: 2015


RiversideCounty

Mission:Our goal is to provide low/no interest loans to start-ups and small businesses needing capital toexpand. Our staff is totally volunteer with as close to 100% of all donated money as possibleused for loans. Our administration costs have been donated by our volunteers to this point.Desert Hot Springs is one of the poorest communities in California. We are a bedroomcommunity that provides housing for many of the low wage workers who provide the labor forcefor the western Coachella Valley. Desert Hot Springs Microloan, Inc.' goal is to kickstart thecreation of small businesses in Desert Hot Springs.

Impact:A donation would be used to assist in the start up of the program

Financial Information: Not available, a new organizion

Revenues: Amount %





Net Assets:BOD: Amando Rodriguez; Reggie Bickford; Joe McKee; Carmen Valles; Kaphan Shepard

7

Notes

1/15/2016List Date

FEIN

DesertArc73-255 Country Club Drive

Palm Desert , CA 92260

www.desertarc.orgDesertArc Founded: 1959


RiversideCounty

Mission:In 1969, property was purchased in Palm Desert, California, and a vocational training workshopprogram for disabled adults was established. In 1983, program operations were moved when thefirst phase of the Palm Desert facility was built on donated property to provide expandedprograms where more than 50 mentally and physically disabled adults where served by theAgency. In July 1999, Desert Arc constructed its 26,000-square-foot building at the Palm DesertCampus where vocational training and employment is provided to clients through the operationof on-site businesses. In 2000, two new workshop facilities for 60 clients were established, toinclude a site in Yucca Valley and Joshua Tree.Today, Desert Arc serves over 600 clientsexpanding from the Coachella Valley and the Morongo Basin, as far west as Temecula and as fareast as Blythe.

Impact:A donation would assist in continuing their mission.


Revenues: Amount %





Net Assets:BOD:

$10,163,969619,987351,774

$11,135,730

91.3%5.6%3.2%

100.0%

$10,265,095101,64610,067

$10,376,808

$758,922

98.9%1.0%0.1%

100.0%

$3,776,767

Lori Serfling; Rosemary Fausel; Jay Chesterton; Nancy Singer; Robert Anzalone; BrookeBeare Stjerne; Mary Hendler; Elaine E. Hill; Paula Kozlen; Kan Middleton Hendrix; GlennMiller; Valene Powers Smith; John Shannon

8

10/11/2013$10,000

Notes

8/7/2015List Date

FEIN

Families for Children2990 Lava Ridge Court Suite 170

Roseville , CA 95661

www.families4children.com94-3083329 Founded: 1989


PlacerCounty

Mission:Families For Children, Inc is a full service California licensed private Non-Profit 501c(3) Adoption& Foster Family Agency, established in 1989. Our mission is to assist in finding permanentadoptive families for the thousands of California children currently in foster care and providecaring short term foster homes for children temporarily removed from their biological parents.Our experienced professional staff, dedicated donors and volunteers have worked together tobuild our established reputation for quality services.

Families For Children offers services throughout Northern California for adoptive and fosterparents providing care for children in their communities with offices centrally located inRoseville, Chico, Stockton, Fairfield, Oakland, and Santa Clara, California.



Revenues: Amount %





Net Assets:BOD:

$3,019,52228,396

211$3,048,129

99.1%0.9%0.0%

100.0%

$2,507,406505,360

$3,012,766

$35,363

83.2%16.8%

100.0%

$389,870

Bill Porter; Richard Gray; Aron Brock; Thomas Wilson; Robert Coe

9

10/11/2013$15,000

Notes

8/28/2015List Date

FEIN

Hispanic Chamber of Commerce Education Foundation2130 E. 4th Street, Suite 160Santa Ana , CA 92705

www.ochcc.com90-0100601 Founded: 2004


OrangeCounty

Mission:The Lead Center for the Orange County/Inland Empire SBDC, hosted by California StateUniversity, Fullerton awarded the Orange County Hispanic Chamber of Commerce as the newhost for the Hispanic Small Business Development Center (SBDC) in Orange County. "CSUF isproud to name the Orange County Hispanic Chamber of Commerce as the Hispanic Serving SmallBusiness Development Center for Orange County. As a long standing 'Hispanic ServingInstitution' (HSI), CSUF has maintained a commitment to serving and enhancing thecontributions of the fastest growing population of students, entrepreneurs, and future leaders.This program will serve as the first of its kind in Southern California and as a model for the restof the nation." stated Dr. Anil Puri, the Dean of the Mihaylo College of Business & Economics atCSUF.

Impact:This program will provide valuable technical assistance to the small business community. Adonation would assist in the program

Financial Information: Internal Financials for FY 2015

Revenues: Amount %





Net Assets:BOD:

102,739

$102,739

100.0%

100.0%

$86,330

$86,330

$16,409

100.0%

100.0%

$15,708

Clemente Gonzalez; Dr. Anil K. Puri; Reuben D. Franco; Alicia Maciel; David Ceballos;Don Martinez; Eddie Marquez; Isis Calvario; Jose Miguel Amozurrutia; Leila Mozaffari;Maria Cervantes; Michael Cooper; Mitch Seigel; Nydia Kush; Oswaldo Dorantes; PattyJuarez; Paula Garcia-Young; Pricilla Lopez; Richard Porras; Rick Rodriguez Jr.; SylviaAcosta; Troy Harrison

10

3/20/2009$10,000

Notes

8/28/2015List Date

FEIN

Home on the Green Pastures705 W. La Veta Ave Suite 204C

Orange , CA 92868

www.hogp.org/eng/index.html33-0572943 Founded: 1993


OrangeCounty

Mission:HOGP's mission is simple and yet addresses a profound issue that has serious socialconsequences. We are dedicated to helping victims of domestic violence in a holistic approach.This approach includes initial contact through the 24-hour hotline, to counseling, to providingshelter, and through relocation. Within these general categories of service there exists a widerange of needs that HOGP works to meet.

HOGP's shelter lies at the heart of the residential program. Women and children who aredisplaced due to incidents of domestic violence are provided safe, clean, housing, andnecessities. The shelter is managed by trained staffs and volunteers who are also acting liaison tothe organization's administrative office.



Revenues: Amount %





Net Assets:BOD:

177,6545,211

$182,865

97.2%2.8%

100.0%

$54,63395,56119,789

$169,983

$12,882

32.1%56.2%11.6%

100.0%

$612,411

Choon Ja Whang; Yeong Hee Choi; Jennifer Kim; Myong Shin Jo; Lee D. Ohm; Patricia YUhm

11

Program expenses arelow because most of theservices are performedby volunteers.

Notes

12/11/2015List Date

FEIN

Inland Counties Regional Center, Inc.PO Box 19037

San Bernardino , CA 92423

inlandrc.org23-7121672 Founded: 1971


San BernardinoCounty

Mission:For the past 44 years, Inland Regional Center’s qualified and supportive employees strive daily toserve more than 31,000 individuals with developmental disabilities in San Bernardino andRiverside counties. As the largest of the regional centers in the State of California, InlandRegional Center is a nonprofit, private community-based agency that is proud to help obtainservices and support for our constituents. Our core values of independence, inclusion andempowerment are the foundation that drives all staff in interactions, provisions of services, andprogram planning processes.

Impact:A donation would be restricted to alleviate the challenges that the families of those slain by therecent terrorist attack.


Revenues: Amount %





Net Assets:BOD:

$334,724,178383,07656,561

$335,163,815

99.9%0.1%0.0%

100.0%

$311,839,78225,430,778

12,045$337,282,605

($2,118,790)

92.5%7.5%0.0%

100.0%

($9,576,545)

Marybeth Feild; Keith J. Nelson; Denise Woolsey; Thomas Cosand; Peter Asten;Theodore Leonard; Leanett Loury-Smith; Jack Padilla; Rene Rojo; John Weeks; CameronPage; Sheela Stark; Alva Stewart; Stacy McQueen; Elvia Aminta Sanders; TammiSimpson

12

12/11/2015$40,000

Notes

12/11/2015List Date

FEIN

Inner-City Arts720 Kohler Street


www.inner-cityarts.org95-4239478 Founded: 1989


Los AngelesCounty

Mission:Inner-City Arts, widely regarded as one of the nation's most effective arts education providers, isan oasis of learning, achievement and creativity in the heart of Skid Row, and a vital partner inthe work of creating a safer, healthier Los Angeles.Providing access to the arts and the endless possibilities they offer, Inner-City Arts is aninvestment in the youth of Los Angeles. Creating a bridge between the studio and the classroom,Inner-City Arts' unique approach to arts education measurably improves academic and personaloutcomes for children and youth, including those students with Limited English Proficiency whoare at risk of academic failure.



Revenues: Amount %





Net Assets:BOD:

$396,9142,679,171

68,056$3,144,141

12.6%85.2%2.2%

100.0%

$2,314,024368,721425,984

$3,108,729

$35,412

74.4%11.9%13.7%

100.0%

$17,145,915

Craig Benell; Jon Neustadler; Susan Emerling-Torres; Jonathan Schreler and 25 others

13

Notes

9/18/2015List Date

FEIN

Los Angeles Regional Food Bank1734 East 41st Street


www.lafoodbank.org95-3135649 Founded: 1973


Los AngelesCounty

Mission:The Food Bank, founded in 1973, provides food and other products to people seeking foodassistance throughout Los Angeles County. We also energize the community to get involved andsupport hunger relief through volunteerism, food and fund drives, financial and in-kind support.The Food Bank also conducts hunger education and awareness campaigns and advocates forpublic policies that alleviate hunger. With the help of 31,000 volunteers and financial supporters,the Food Bank distributed over 60 million pounds of food in 2011 including 14 million pounds offresh produce. We serve over 1 million individuals throughout Los Angeles County each year.The Food Bank also has nutrition education classes for local schools. Additionally, we make everyeffort to educate the public about the problem of hunger

Impact:A donation would assist them in the continuation of their mission


Revenues: Amount %





Net Assets:BOD:

$27,808,69149,995,295

499$77,804,485

35.7%64.3%0.0%

100.0%

$76,648,777568,562

1,522,729$78,740,068

($935,583)

97.3%0.7%1.9%

100.0%

$15,858,498

Dino Barajas; Karl E. Block; Christina E. Carroll; Bradford E. Chambers; Ravi Chatwani;Joseph E. Davis; Stephanie Edens; Jonathan Friedman; Richard Fung; Whitney JonesRoy; Robert W. Kelly; Gary Kirkpatrick; David Luwisch; Barry Siegal; Mark A.Stegemoeller; Cary STrouse; James A. Thomson; Susan Leonard; Karen Pointer

14

3/4/2011$5,000

Notes

9/18/2015List Date

FEIN

OneOC1901 E. 4th Street, Suite 100Santa Ana , CA 92705

www.oneoc.org95-2021700 Founded: 1958


OrangeCounty

Mission:OneOC was founded in 1958 as Newport Bureau of Volunteerism, the very first communityservice project of the Junior League of Orange County. Newport Bureau of Volunteerism thenbecame the Volunteer Center Orange County. In 2010, the organization rebranded to becomeOneOC, signaling our expanded services to nonprofits across the county. Since our earlybeginnings, we have developed ways for people to best use their valuable time and talent to helpothers. OneOC holds a 57-year track record of encouraging people to become personally involvedin making our community a good and welcoming place to live, work, and raise a family. We havegrown and matured into the largest and most comprehensive of the 250 volunteer centersnationwide, partnering with Points of Light Institute, HandsOn Network and California Volunteers.In 2015, OneOC launched the Center for Business & Community Partnerships, which helpscompanies build and grow their giving and employee volunteering programs.



Revenues: Amount %





Net Assets:BOD:

$3,343,4783,794,788

6,210$7,144,476

46.8%53.1%0.1%

100.0%

$6,354,448441,182335,962

$7,131,592

$12,884

89.1%6.2%4.7%

100.0%

$4,116,866

Rob Reindl; Gary Meister; Dave Copley; Mark Tillotson; Marna Bullard; Bassam Fawaz;Jeffrey Bird; Daniel McQuaid

15

Notes

12/11/2015List Date

FEIN

Phoenix Learning Center Program of Julian Charter School, Inc.777 Santa Fe Drive

Encinitas , CA 92024

sites.juliancharterschool.org/phoenixlc/33-0894086 Founded:


San DiegoCounty

Mission:Vision: The vision of Phoenix Learning Center is to create a community of compassionate,innovative, life-long learners who continually strive for excellence. Our program’s aim is topromote an academically rigorous curriculum that values the different interests, learning styles,and abilities of each student. Curriculum Goals: Our program is designed to teach theCalifornia state standards while using differentiated curriculum addressed in the California GATEstandards, such as acceleration, novelty, depth and complexity. Through differentiation of thecore curriculum, the program creates opportunities for students to become analytic thinkers,creative producers and practical problem solvers. Lessons emphasize critical thinking skills,inquiry, and connections to universal concepts through cooperative learning experiences andclass discussions. A variety of research-based instructional strategies and materials are usedthroughout the grade levels to meet the needs of all students.

Impact:A donation would be used to enhance their program.


Revenues: Amount %





Net Assets:BOD:

$14,969,080928,333

5,710$15,903,123

94.1%5.8%0.0%

100.0%

$12,248,5433,438,326

$15,686,869

$216,254

78.1%21.9%

100.0%

$1,996,506

Roxanne Huebescher; Susan Schumacher; Kevin Ogden; Teresa Saueressig; KathleenHedrick

16

9/20/2013$5,000

Notes

12/12/2014List Date

FEIN

St. Vincent de Paul Village, Inc. dba Father Joe's Villages3350 E. Street

San Diego , CA 92102

my.neighbor.org33-0492302 Founded: 1994


San DiegoCounty

Mission:St. Vincent de Paul Village is the cornerstone of San Diego’s fight to prevent and endhomelessness one life at a time. As a one-stop center to address all of the rehabilitative needs ofthe homeless, St. Vincent de Paul offers an array of housing and supportive services.Father Joe’s understands that there are no one-size-fits-all housing solutions. That is why weoffer a variety of options that help clients get off the streets and into a safe place to call home.With 41 percent of all available transitional housing beds in San Diego, St. Vincent de Paul Villageis the largest residential homeless services provider in the county.While stable housing is the ultimate target, there are a multitude of steps that an individual mayneed to address before reaching that point. We focus on the issues contributing to each client’shomelessness and aim for a rapid return to permanent housing as the primary goal.

Impact:A donation would assist the organization in the furtherance of their mission.


Revenues: Amount %





Net Assets:BOD:

$12,943,39413,758,508

205,738$26,907,640

48.1%51.1%0.8%

100.0%

$22,564,6422,234,8831,565,403

$26,364,928

$542,712

85.6%8.5%5.9%

100.0%

$5,192,088

Vince Kasperick - Chair; Craig McKasson - Treasurer; James M. Waters - Secretary and19 others

17

Notes

11/20/2015List Date

FEIN

The Children's Village of Sonoma County1321 Lia Lane

Santa Rosa , CA 95404

www.thechildrensvillage.com68-0412763 Founded: 1999


SonomaCounty

Mission:The mission of The Children’s Village of Sonoma County is to provide nurturing, stable familyhomes in a multi-generational, enriched environment for children and their siblings in foster care.

Our Goals:

Establish a family-like setting for children in foster careProvide enrichment activities focusing on each child’s interests and talentsProvide opportunity for sibling groups to grow up togetherMaximize stability and minimize multiple placementsPrepare for successful transition to adulthood

Impact:A donation would enhance their mission


Revenues: Amount %





Net Assets:BOD:

$1,716,949410,35474,249

$2,201,552

78.0%18.6%3.4%

100.0%

$1,717,478340,31581,247

$2,139,040

$62,512

80.3%15.9%3.8%

100.0%

$3,549,544

Denise Perkins; Linda McBride; Chris Martindill; Tracy Knoll; George Elias; TriciaDickinson; Mark Miller; Gene Del Secco; Eric McHenry; Kathy DeVillers; Melinda Moir;Gwendolyn Toney

18

10/11/2013$15,000

Notes

10/10/2014List Date

FEIN

The Leukemia & Lymphoma Society60330W. Century Blvd


www.lls.org/#/aboutlls/chapters/calso/13-5644916 Founded: 1949


Los AngelesCounty

Mission:The mission of The Leukemia & Lymphoma Society (LLS) is: Cure leukemia, lymphoma,

Hodgkin's disease and myeloma, and improve the quality of life of patients and their families.

LLS is the world's largest voluntary health agency dedicated to blood cancer. LLS fundslifesaving blood cancer research around the world and provides free information and supportservices.

Our Key Priorities will ensure that: The Leukemia & Lymphoma Society helps blood cancerpatients live better, longer lives.

Impact:Any donation would be used to further the mission of the organization


Revenues: Amount %





Net Assets:BOD:

$14,969282,657,10410,150,920

$292,822,993

0.0%96.5%3.5%

100.0%

$222,923,3992,221,223

47,258,877$272,403,499

$20,419,494

81.8%0.8%

17.3%100.0%

$114,048,779

James A. Beck; William G. Gehnke; Jorge L. Benigtez; Peter B. Brock; A Dana Callow Jr.;Elizabeth J. Clark; Jorge Cortes; James H. Davis; Bernard H. Garil; D. Gary Gillialand;Pamela Jo Haylock; Raanan Horowitz; Richard M. Jeanneret; Armand Keating; Joseph B.Kelley; Marie V. McDemmond; Rodman N. Myers; Steven T. Rosen; Kenneth M.Schwartz; Kathryn C. Vecellio; William M. Ward Jr.; Louise E. Warner; Matthew J. Winter

19

7/1/2011$35,000

The financial info is forthe overall nationalorganization. Anydonation would berestricted to the LosAngeles Chapter

Notes

3/21/2014List Date

FEIN

The Pure Game1505 E. 17th Street, Suite 211

Santa Ana , CA 92705

www.thepuregame.org26-4083785 Founded: 2009


OrangeCounty

Mission:Pure Game is a nonprofit organization that provides mentors “Field Champions” to help childrendevelop character through experiential learning. Pure Game’s character education curriculum isfacilitated through the game of soccer.

Our Vision is a community of children and youth that are realizing their potential, contributing tothe community as young leaders and confidently making positive choices that reflect their uniquestrengths and personalities.



Revenues: Amount %





Net Assets:BOD:

$23,367298,874

$322,241

7.3%92.7%

100.0%

$211,68541,28947,518

$300,492

$21,749

70.4%13.7%15.8%

100.0%

$7,670

Tony Everett; Chris Panaia; Jeanette Valencia; Octavio Valente; Jimmy Puccini; SvenJohnston; Erik Woodbury; Zena Peltier; Andy Downer; Mike Fransz; Zajid Cova; FrankAcosta; James Dagostino; Ian Thomas; Doug Hall; Erik McGrath

20

Notes

11/20/2015List Date

FEIN

Tomorrow's Aeronautical Museum961 W. Alondra Blvd

Compton , CA 90220

www.tamuseum.org33-0830637 Founded: 1998


Los AngelesCounty

Mission:Mission - Tomorrow’s Aeronautical Museum is a living classroom bringing aviation history to lifeand empowering the dreams of youth to take flight. Interactive exhibits explore racial diversity inthe evolution of modern flight, while our dynamic nonprofit flight academy and after-schoolprograms offer STEM (science, technology, engineering, and math) enrichment as a compellingalternative to drugs, gangs, violence and other self-destructive activities.

Vision - We envision healthy communities where all youth receive the support they need tograduate high school, go to college, give back to their communities, and become futurecontributors in the fields of science, aeronautics, and technology.

Impact:A donation would assist them in their program.


Revenues: Amount %





Net Assets:BOD:

$233,14699,099

$332,245

70.2%29.8%

100.0%

$346,17760,90228,528

$435,607

($103,362)

79.5%14.0%6.5%

100.0%

($430,193)

Tony Marshall; Omarosa Manigault; Susan Viach; Mark D. Collins; Andy Harber; TtisHooper; Gary Roy; John Schneider; Robin Petgrave; Joseph R. Turner

21

11/16/2012$10,000

Notes

10/9/2015List Date

FEIN

Wildlife Waystation, Inc.14831 Little Tujunga Canyon Road

Sylmar , CA 91342

wildlifewaystation.org95-3190812 Founded: 1976


Los AngelesCounty

Mission:Since its inception, the Wildlife Waystation has provided shelter and care to over 76,000 animals.These animals come from all over the world and from many different situations. The 160+ acreenclave is fully licensed and is one of the most diverse facilities of its kind in the United States.The Wildlife Waystation was created in response to the lack of existing facilities designed to helpand house wild and exotic animals.There is a large and varied range of animals residing at the Wildlife Waystation. These include alltypes of large cats (lions, tigers, bobcats, leopards, mountain lions, and even ligresses),chimpanzees, bears, opossums, foxes, llamas, reptiles, wolves, and many types of birds includingbirds of prey. The Wildlife Waystation also has the largest chimpanzee colony in the western U.S.with almost 50 chimps as permanent residents.

Impact:A donation would assist the organization in its continuing mission.


Revenues: Amount %





Net Assets:BOD:

2,372,1639,691

$2,381,854

99.6%0.4%

100.0%

$1,749,216150,388235,611

$2,135,215

$246,639

81.9%7.0%

11.0%100.0%

($528,993)

Martine Colette; Peggy Summers; Margaret Levine; Karl Champley;Toree Arntz; MitchApodaca

22

Notes

10/30/2015List Date

FEIN


_____________________________________________________________

CMFA





Bob Adams- Director

CFSC





Bob Adams- Director

Subcommittees:






_____________________________________________________________



Discussion:







Proposed Fees

2015 2016 2017 2018

CMFA Audit 23,344 23,900 24,100 24,300

CFSC Audit 8,192 8,200 8,300 8,400

CFPF Tax Return 2,960 3,000 3,030 3,060

34,496 35,100 35,430 35,760

Recommendation:



California Foundation For Stronger Communities 5:15 PM

Profit & Loss Budget vs. Actual 01/13/2016

July through December 2015 Accrual Basis

Jul - Dec 15 Budget $ Over Budget


Restricted Income

CMFA Restricted Grants 0 5,000 -5,000

Total Restricted Income 0 5,000 -5,000

Unrestricted Income

CMFA Operations Grants 5,738 8,000 -2,262

CMFA Unrestricted Grants 730,000 455,090 274,910

Total Unrestricted Income 735,738 463,090 272,648

Total Program Income 735,738 468,090 267,648

Total Income 735,738 468,090 267,648

Gross Profit 735,738 468,090 267,648

Expense

Charitable Payments

Restricted Charity Payments 0 5,000 -5,000

Unrestricted Charity Payments 720,000 455,090 264,910

Total Charitable Payments 720,000 460,090 259,910

Dues and Subscriptions 75 75 0

Miscellaneous 0 354 -354

Office Supplies 288

Professional Fees

Accounting Fees 5,375 7,576 -2,201

Total Professional Fees 5,375 7,576 -2,201

Taxes

State Taxes -15 25 -40

Total Taxes -15 25 -40

Total Expense 725,723 468,120 257,603

Net Ordinary Income 10,015 -30 10,045

Other Income


Net Income 10,073 0 10,073

Page 1 of 1


Statement of Financial Income and Expense 01/13/2016

Accrual Basis

Jul - Dec 15 Jul - Dec 14 $ Change


Income

Restricted Income

CMFA Restricted Grants 0 3,063 -3,063

Total Restricted Income 0 3,063 -3,063

Unrestricted Income

CMFA Operations Grants 5,738 5,661 77

CMFA Unrestricted Grants 730,000 507,500 222,500

Total Unrestricted Income 735,738 513,161 222,577

Total Program Income 735,738 516,224 219,514

Total Income 735,738 516,224 219,514

Gross Profit 735,738 516,224 219,514

Expense

Charitable Payments

Restricted Charity Payments 0 3,063 -3,063

Unrestricted Charity Payments 720,000 502,500 217,500

Total Charitable Payments 720,000 505,563 214,437

Dues and Subscriptions 75 75 0

Office Supplies 288 0 288

Accounting Fees 5,375 5,576 -201

Taxes

State Taxes -15 0 -15

Taxes - Other 0 10 -10

Total Taxes -15 10 -25

Total Expense 725,723 511,224 214,499


Other Income/Expense

Other Income


Total Other Income 58 40 18

Net Other Income 58 40 18

Net Income 10,073 5,040 5,033

Page 1 of 1


Statement of Financial Position 01/13/2016

Accrual Basis

Dec 31, 15 Dec 31, 14 $ Change

ASSETS

Current Assets

Checking/Savings

Wells Fargo Checking (#4721) 55,350 20,255 35,095

Total Checking/Savings 55,350 20,255 35,095

Accounts Receivable 6,027 5,576 451

Total Current Assets 61,377 25,831 35,546

TOTAL ASSETS 61,377 25,831 35,546

LIABILITIES & EQUITY

Liabilities

Current Liabilities

Accounts Payable 40,000 10,000 30,000

Total Accounts Payable 40,000 10,000 30,000

Other Current Liabilities

Accrued Expenses 6,027 5,576 451

Total Other Current Liabilities 6,027 5,576 451

Total Current Liabilities 46,027 15,576 30,451

Total Liabilities 46,027 15,576 30,451

Equity

Retained Earnings 5,277 5,214 63

Net Income 10,073 5,040 5,033

Total Equity 15,350 10,254 5,096

TOTAL LIABILITIES & EQUITY 61,377 25,830 35,547

Page 1 of 1

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Donations as of 12/11/15

PROCEDURAL ITEMS FOR THE CFPF


_____________________________________________________________

Items: A1, A2, A3

Action: Pursuant to the by-laws and procedures of CFPF, each

meeting starts with the call to order and roll call (A1) and

proceeds to a review and approval of the minutes from

the prior meeting (A2). After the minutes have been

reviewed and approved, time is set aside to allow for

comments from the public (A3).

_____________________________________________________________


_____________________________________________________________

CMFA





Bob Adams- Director

CFSC





Bob Adams- Director

Subcommittees:






_____________________________________________________________



Discussion:







Proposed Fees

2015 2016 2017 2018

CMFA Audit 23,344 23,900 24,100 24,300

CFSC Audit 8,192 8,200 8,300 8,400

CFPF Tax Return 2,960 3,000 3,030 3,060

34,496 35,100 35,430 35,760

Recommendation:



A1, A Pursu meeti proce the p review comm ______ DURAL

Documents

Transcript of A1, A Pursu meeti proce the p review comm ______ DURAL